SolarSquare Raises $53M led by B Capital to Build India’s Largest End-to-End Residential Solar Platform

• SolarSquare is India’s #1 residential solar brand and today they have the largest portfolio of distributed solar assets under management in the country
• The funding signals growing investor conviction that residential rooftop solar is moving from a niche category to a mass-market opportunity in India.
• The company is the first in India to offer performance guarantees with their solar solution, giving consumers complete security on their solar investments. 
• This round also puts SolarSquare in a short list of women-led companies operating at genuine scale inside India’s energy and climate-tech ecosystem.

Five years ago, residential solar in India was largely invisible to mainstream investors, underfunded compared to utility-scale projects, and perpetually described as "nascent." Today, SolarSquare is making that story impossible to ignore.

SolarSquare, India’s leading residential solar brand, has raised $53 million in a Series C funding, marking the largest venture investment in India’s solar sector. The round was led by B Capital with existing investor Lightspeed doubling down on the company. Other existing investors Elevation Capital, Lowercarbon Capital, Rainmatter by Zerodha and Good Capital also returned to participate in the current round. This takes the total capital raised by the company to over $100mn.

The fresh capital will be deployed to accelerate geographic expansion into new cities, deepen SolarSquare’s technology capabilities, hire talent and scale the platform to capitalize on this generational opportunity to become India’s most trusted new age home-energy brand.

Founded by Neeraj Jain, Nikhil Nahar and Shreya Mishra, the raise marks a defining moment for SolarSquare and for the broader category they have spent a decade building. Since its founding in 2015, the company has grown into India’s largest residential rooftop solar brand, having powered ~50,000 homes across the country and currently run-rating over 1000 Cr in revenues.

The timing of the raise reflects a fundamental shift in how Indian homeowners are thinking about energy. India’s electricity tariffs have been climbing steadily and investment in residential solar breaks-even in less than 5 years across India. Rising electricity costs, a volatile global environment and India’s growing energy needs are all converging to decentralised rooftop solar as the answer, benefitting consumers and the country.

The central government’s PM Surya Ghar scheme has seeded consumer awareness at a scale no marketing budget could replicate.

Five years ago, we made a conviction-led bet that every Indian home will be powered by rooftop solar. At the time, residential solar was still very nascent, with barely 1 Lac homes going solar per year. Today, the category has inflected with 1 Lac homes adopting solar every 10 days in India. And we want to build the operating system for this energy transition in India - with solar installation solutions, after-sales, financing, battery solutions, home energy management. This capital will allow us to accelerate that vision. - Shreya Mishra, Co-Founder & CEO, SolarSquare. 

SolarSquare operates as a full-stack home energy platform. The company manages the entire customer journey: from initial consultation and system design to installation, financing support, and long-term maintenance - a vertically integrated model built for a market that has historically been fragmented and unorganised. Rooftop solar requires a capital commitment of anywhere between ₹2–4 lakh for a typical urban household. That kind of decision demands trust, transparency, and reliable after-sales support. SolarSquare’s integrated model is built precisely around that insight. It is the first in India to offer a performance guarantee to its customers, an innovation that gives customers complete assurance on their investment.

Underpinning this is a proprietary technology and operations platform that today manages India's largest portfolio of residential solar assets - at scale, and with a performance guarantee attached to every system.

B Capital anchoring the round brings deep global pattern-recognition to a market that has often been underestimated. The continued conviction of Lightspeed and Lowercarbon Capital - one of the world’s most prominent climate-focused funds, alongside Elevation Capital and Rainmatter by Zerodha, reflects a rare alignment of international climate capital and India-native consumer investment conviction behind a single platform.

India's energy transition will not be won on the grid alone, it will be won home by home, city by city. At B Capital, we've studied residential energy across markets for years, and SolarSquare combines category leadership, best-in-class unit economics, and a proprietary technology and asset-management layer that compounds with every install. What drew us in is the quality and tenure of the founders, a team that has spent a decade patiently building category infrastructure and layering in future growth levers in financing and battery storage. India's drive toward energy independence is a once-in-a-generation tailwind, and we believe SolarSquare is best positioned to become the national brand symbolic of that transition - and a generational Indian company, – Karan Mohla, General Partner, B Capital.

Founders of SolarSquare 

Rahul Taneja, Partner at Lightspeed India - , We backed SolarSquare on the belief that trust would decide who wins residential solar in India. Since our Series B, they’ve proven it - through their full-stack model, performance guarantee plans, and sheer operating discipline. We remain strong believers and have doubled down in this round.

The opportunity ahead is structural, not cyclical. Growing power consumption among homeowners, rising electricity tariffs, urgency to reduce reliance on imported fuel, grid infrastructure challenges - all are creating the moment for decentralised solar to become mainstream in India. India has an estimated 70 million viable residential rooftops in India. Residential solar penetration, even with recent growth, remains at less than 5%, compared to 35% in Australia, 15% in Germany.

ABOUT SOLARSQUARE

Founded in 2015 by Neeraj Jain, Shreya Mishra, and Nikhil Nahar, SolarSquare is India’s #1 residential rooftop solar company, delivering end-to-end solutions from design and installation to financing and maintenance. With more than 50,000 homes powered across India, SolarSquare is driving the clean energy transition through innovation, trust, and scale.